The National Crime Agency has finally been let off the leash to track down gangsters pocketing millions of pounds in Northern Ireland.

The service, dubbed the British FBI, is fully operational from today and will help the PSNI tackle serious and organised crime.

The NCA was set up in October 2013 but political wrangles over its accountability meant its powers were limited here.

But, after the SDLP changed its position earlier this year, the covert agency was given the go-ahead to fight cross-border crime, child exploitation, people trafficking, money laundering and internet abuse.

The agency has an annual budget of half-a-billion pounds to fight crime.

Justice Minister David Ford said the granting of constabulary and civil recovery powers will have a significant impact in the fight against organised crime in Northern Ireland.

He added: “From today the NCA will be able to exercise its full range of powers in Northern Ireland.

“As Justice Minister and as chair of the Organised Crime Taskforce, I welcome this significant milestone.

“It is important of course that it has appropriate accountability within our local framework and it has that with significant roles for the Board and the Police Ombudsman.

Justice Minister David Ford

“As a United Kingdom-wide organisation the NCA has a level of resources and specialisation that cannot be achieved at regional level. There is no doubt that additional pressure has been put on the PSNI because they have not been able to use the NCA’s considerable expertise.

“That will no longer be the case.

“I know that a considerable amount of work has been undertaken over the past two years to bring us to this point and I commend all those involved.”

The region’s top cop said the move would significantly bolster efforts to tackle organised crime.

PSNI Chief Constable George Hamilton said: “I welcome the additional capacity and expertise which the NCA will bring to Northern Ireland to help police officers keep people safe.

"As the NCA becomes fully operational, we will be working closely with our new colleagues to ensure opportunities are maximised to tackle serious and organised crime and apprehend offenders.

“At the same time, I will ensure that the accountability arrangements being agreed with the Policing Board are factored into every aspect of operational activity to deliver both public confidence and community safety.”

Justice Minister David Ford is pictured with Keith Bristow, Director General of the National Crime Agency, and PSNI Chief Constable George Hamilton (Image: Aaron McCracken/Harrison Photography)

NCA Director General Keith Bristow added: “We have consistently said the National Crime Agency is committed to protecting the people of Northern Ireland against serious and organised criminals as we do in the rest of the UK. Now with the legislative process complete in Northern Ireland we will work with our PSNI and law enforcement colleagues and get on with doing our duty.”

The NCA will have to adhere to the same code of ethics as the PSNI and co-operate with the Police Ombudsman.

The Policing Board is tasked with overseeing the PSNI and will also have full scrutiny powers while the chief constable will have primacy over NCA operations.